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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #54,221
  • Feb 5, 2010 1:37pm Feb 5, 2010 1:37pm
J16 Method rocks
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The purpose of knowledge is action, not knowledge
  • #54,222
  • Feb 5, 2010 1:44pm Feb 5, 2010 1:44pm
Quoting james16
man those invisible people are working hard on those e-books this morning.

if any of you need any assistance just email me.
I think you need some sleep Jim, and I hope your boy is doing okay, be careful of strong or high dose antibiotics for the ear infection, my dad always advise me to use generic medications first because they have the lowest concentration possible so it's has the least chance for the bacterias in your body to get immune to a certain antibiotic, it's important because strong antibiotics are always used on a much higher degree of infection, so we have to prepare our body for the worst hence start from the weak antibiotic first, expensive medication isn't always the best.

Oh and if you already knew all that, please just ignore these you've done so much for me than you might know and for that I may not be able to repay you ever Jim, I try to help anytime I can.

Regards,

Marcel.
  • #54,223
  • Feb 5, 2010 1:47pm Feb 5, 2010 1:47pm
Gold Trade:

Pin at 50 Fib Retracement & Descending Trendline
With Current Down Trend
Bearish Divergence on RSI 6

Take Profit Hit
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The purpose of knowledge is action, not knowledge
  • #54,224
  • Feb 5, 2010 1:50pm Feb 5, 2010 1:50pm
Quoting alifari
Gold Trade:

Pin at 50 Fib Retracement & Descending Trendline
With Current Down Trend
Bearish Divergence on RSI 6

Take Profit Hit
Nice Trade, glad I wasn't the only one that took it.

.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #54,225
  • Feb 5, 2010 2:06pm Feb 5, 2010 2:06pm
Hi All
I have a mechanical question. I was able to see and read all the videos
in James' forum.However when I tried to bring up Fiji section it would not respond.
The screen said Real Player---- Cannot start playback.Then another
report came up and said more information is available at the Real Networks custom support website.
It said I may have to upgrade Real Player.I did so... but to no avail.
I just get the home page of Real Player but no video.although Fiji notation
is in the lower left hand margin
Any suggestions what I my have to click to get Fiji operational

Thanks much
Conquer the beast with disciplined determination and intellegent control.
  • #54,226
  • Feb 5, 2010 2:18pm Feb 5, 2010 2:18pm
*didn't mean to quote, please delete this post*
  • #54,227
  • Feb 5, 2010 2:30pm Feb 5, 2010 2:30pm
Hi all.

I am recently exploring different markets with Price Action Method. I spotted one interesting Stock (CFD) Honeywell International.

Attached is a weekly chart. This price action developed right before financial crisis.

8 Consecutive Inside Bar close to Round Number $50. 7th Inside Bar formed BEOB piercing Round Number $50. Next Bar retraced to $50 but came back down and closed very close to breaking outside bar. Next bar broke and price dropped almost $16 in 3 weeks.
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The purpose of knowledge is action, not knowledge
  • #54,228
  • Feb 5, 2010 2:49pm Feb 5, 2010 2:49pm
Quoting StoragePro
Some of the ones I can drop here

"No, I'm not a pessimist. At some point the world shits on everybody. Pretending it ain't shit makes you an idiot, not an optimist."

"Can we talk later? The news is on... Well, if you have tuberculosis it's not gonna get any worse in the next 30 minutes, jesus."

"Universe is 14 billion years old. Seems silly to celebrate one year. Be like having a f*cking parade every time i take a piss."

"I like See's candy. Put me in a See's store, I'm eating candy. The whole world is Tiger's See's store, and the...
This guy is freaking hilarious. I can't stop reading them. lol


"It's never the right time to have kids, but it's always the right time for screwing. God's not a dumbshit. He knows how it works."
Indicators show the past. Price Action "Indicates" the future.
  • #54,229
  • Feb 5, 2010 3:49pm Feb 5, 2010 3:49pm
Quoting jarroo
This guy is freaking hilarious. I can't stop reading them. lol


"It's never the right time to have kids, but it's always the right time for screwing. God's not a dumbshit. He knows how it works."
Brilliant.
I'm pretty much done with all this ...
  • #54,230
  • Feb 5, 2010 3:55pm Feb 5, 2010 3:55pm
Quoting marcelnyo
I'm a junior here, who is trader_dante? the name sounds real tough though...

Sam Seiden has another prespective on Market Gaps in this video here,

Actually it's like what Jim said, bring any system and filter it with S/R and PA and you'll have a winning system already.

Order flow is another tool in the box for me
If you go through the first 1000 pages of this thread, you'll eventually find posts by a member called the_wizard. That's the same person as TD (which is the alias he uses over on T2W). Some time ago, he started a thread over there, called Making Money Trading (link), which is one of the best read threads over there. It's also the thread that led me, and (quite?) a few others before me, over here.
It's not about how much you make, it's about how much you don't lose.
  • #54,231
  • Feb 5, 2010 7:36pm Feb 5, 2010 7:36pm
Quoting goldtrader
Wait to load my gun...
Stopped out at b/e, but it's good for me, b/c that's what i planed.
Back to the beginning ... demo
  • #54,232
  • Feb 5, 2010 7:44pm Feb 5, 2010 7:44pm
Well guys I'm going to take a break from this thread for a bit, focus on the PF videos/text tutorials/FIJI's material and spend next week making 100% my own trades. No looking on here and panicking that maybe I'm wrong because someone else bought in the middle of a trade where I was selling...

I got mildly boxed on the psychology element of trading this past week and was scared to pull the trigger on many obvious patterns coming off the big round numbers (GBPUSD daily bar/4hr bar was the most obvious)... I saw the patterns, and didn't act. Too much confidence was followed by too little confidence. lol, funny how that works.
Many choose unhappiness over uncertainty.
  • #54,233
  • Feb 5, 2010 7:44pm Feb 5, 2010 7:44pm
I'm gonna play it next week, it is at good location and swing, isn't it?
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Back to the beginning ... demo
  • #54,234
  • Feb 5, 2010 7:52pm Feb 5, 2010 7:52pm
Quoting Dan Gilbert
Well guys I'm going to take a break from this thread for a bit, focus on the PF videos/text tutorials/FIJI's material and spend next week making 100% my own trades....
If you just start to trade live, it's always like that, don't feel worry, you will get through it, just focus on limit your losses, then you can grow... that's what i experienced

Just keep moving on...

P.S: I don't know much about your situation, so if I'm wrong, please correct me
Back to the beginning ... demo
  • #54,235
  • Feb 5, 2010 8:18pm Feb 5, 2010 8:18pm
Quoting goldtrader
If you just start to trade live, it's always like that, don't feel worry, you will get through it, just focus on limit your losses, then you can grow... that's what i experienced

Just keep moving on...

P.S: I don't know much about your situation, so if I'm wrong, please correct me
well my first week of trading was amazing, just caught huge runners and was destroying it. then this week I took a 2% total loss on NZDUSD and USDCAD bars, and because of that, I missed the NZDUSD BEOB, and GBPUSD BEOB and I feel like the only reason I skipped those was because I was so damn gun-shy that an A+ trade didn't work how i thought it would.
Many choose unhappiness over uncertainty.
  • #54,236
  • Feb 5, 2010 9:29pm Feb 5, 2010 9:29pm
Quoting Dhb
If you go through the first 1000 pages of this thread, you'll eventually find posts by a member called the_wizard. That's the same person as TD (which is the alias he uses over on T2W). Some time ago, he started a thread over there, called Making Money Trading (link), which is one of the best read threads over there. It's also the thread that led me, and (quite?) a few others before me, over here.
oh so tom is trader_dante a.k.a the_wizard... he is my idol thanks for the reply Dhb, I wonder where he is now? this quote is one that I'll never forget :

"What I want to do and What I've found good at doing, are two very different things"

Regards,

Marcel
  • #54,237
  • Feb 5, 2010 11:40pm Feb 5, 2010 11:40pm
Man, this place is a graveyard in the weekend,

What are you guys doing? I'm working on a daytrade system on HSI Futures but lack historical tick by tick data going back at least 1 year, any Idea where I can find or buy one cheaply? or maybe some one here has a subscription to a quote provider that could provide it for free

To tell you the truth, this is about one of the only two threads I visit regularly in forexfactory, no, that's not the truth, I think the amount of converstion or social interaction I spend here is actually more if compared to what I spend in or outside my house, I felt that I'm becoming more of a recluse the more I trade, I am more quiet and starts to feels uneasy in a crowd where I am not the center of attention, thank God I'm not nervous in front of an audience because I always felt like myself when doing that.

This freaks me out, I'm becoming an introvert even more, my eyes are glued to the screen and all I can think of is methods and strategies and how to manage trades, what markets I'd like to trade... everything is about trading... If a converstion isn't about trading or health and fitness, I often stay quiet and only nods occasionally, I find myself trying to stay away from people and are addicted to posting and just commenting anything I saw in the J16 Public thread, when forexfactory's server is in maintenance I'm at lost of things to do, games no longer amuse me and movies felt like time wasting, everything in my life starts to feel like markets, and this is just the beginning, I'm not a successful trader yet, Lord knows, I gotta get a life or make one.... sigh, weekend rants...

Happy weekends guys/gals
  • #54,238
  • Feb 5, 2010 11:52pm Feb 5, 2010 11:52pm
Quoting marcelnyo
, Lord knows, I gotta get a life or make one...
Go outside and chop some wood (if it's daylight) or you'll go bonkers.
Gone to a better place
  • #54,239
  • Feb 5, 2010 11:52pm Feb 5, 2010 11:52pm
Quoting Area51
Hi fellow traders.

Anyone watching this possible pinbar on the EURUSD Daily.

I know it has a way to go yet and my not even end up as a PB but I would appreciate your views.

A51
I like it for all the reasons stated by Dobe r man. I think it's a decent set up too because the nose is sticking out more than 1/2 the entire bar length above the prior bars high. It's at a swing high and, at least in my experience, these pin bars at swing highs have an excellent probability of following through to at least the low of the where the pullback began. It's a nice 123 pullback with three higher highs so it meets my criteria for a good pullback. Just look at Jeff Coopers book "Hit and Run Trading" and you see good ideas for filtering out the higher probability pullbacks to trade. Combine those with Price Action set ups at the top of the pullbacks and I think if you look at 100 or 200 of these set ups you will see that they do quite well in nearly any time frame. The key is that you have to do your own testing and review of hundreds of these pullbacks to gain the confidence needed to trade them. You also need to be aware of the side-to-side market action support and resistance that James16 teaches. Something I did not understand before I found this thread.
  • #54,240
  • Feb 5, 2010 11:57pm Feb 5, 2010 11:57pm
Quoting james16
all of them are putting together e-books trig.

they will range from 19 to roughly 199 dollars when finished.

im not kidding. lololol.
yea right.
here are some I know.
Raczekfx, Seeking Light, Benji, SupremeChaos and the great, Nasir.khan.
btw that " Ebook" would be a best seller.
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